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Economic dispatch can promote the economic operation of power systems, and reactive power dispatch can ensure the safe and reliable operation of power systems. Essentially different from the related literature with separately optimizing the two dispatches, this paper proposes the collaborative optimization strategy of dynamic grid dispatch to optimize economic dispatch and reactive power dispatch simultaneously. The strategy is devoted to analyzing the internal relationship of the two dispatches, and establishing a collaborative optimization model to complete the collaborative optimization of the two dispatches. Moreover, multi-objective hybrid bat algorithm is improved by an unbalanced power distribution method, which is suitable to solve dynamic grid dispatch problem. Finally, wind power predicted by neural network is integrated in the collaborative optimization of dynamic grid dispatch, and the influence of wind power integration on grid dispatch is studied. The numerical examples on the IEEE 30-bus are provided to demonstrate the superiority of the proposed strategy. [ABSTRACT FROM AUTHOR]